Sagespring Wealth Partners LLC acquired a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,646 shares of the utilities provider's stock, valued at approximately $277,000.
Several other large investors also recently bought and sold shares of the company. Sowell Financial Services LLC increased its stake in shares of CenterPoint Energy by 24.6% during the 1st quarter. Sowell Financial Services LLC now owns 32,139 shares of the utilities provider's stock worth $1,164,000 after purchasing an additional 6,355 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in CenterPoint Energy by 8.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 80,229 shares of the utilities provider's stock valued at $2,907,000 after buying an additional 6,377 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in CenterPoint Energy by 106.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 74,108 shares of the utilities provider's stock worth $2,685,000 after buying an additional 38,292 shares in the last quarter. Net Worth Advisory Group acquired a new position in shares of CenterPoint Energy in the first quarter worth $210,000. Finally, Fifth Third Bancorp lifted its position in shares of CenterPoint Energy by 2.4% in the first quarter. Fifth Third Bancorp now owns 20,838 shares of the utilities provider's stock valued at $755,000 after acquiring an additional 489 shares in the last quarter. Institutional investors and hedge funds own 91.77% of the company's stock.
CenterPoint Energy Stock Up 1.5%
NYSE:CNP traded up $0.55 during mid-day trading on Monday, hitting $36.29. The company had a trading volume of 4,652,858 shares, compared to its average volume of 5,630,732. The business has a fifty day simple moving average of $37.21 and a 200-day simple moving average of $34.82. The firm has a market capitalization of $23.69 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 2.63 and a beta of 0.59. CenterPoint Energy, Inc. has a 1 year low of $25.41 and a 1 year high of $39.31. The company has a current ratio of 0.93, a quick ratio of 0.79 and a debt-to-equity ratio of 1.86.
CenterPoint Energy (NYSE:CNP - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). CenterPoint Energy had a net margin of 10.80% and a return on equity of 9.74%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same period last year, the business earned $0.55 EPS. Equities analysts forecast that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.
CenterPoint Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 15th were given a $0.22 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.42%. CenterPoint Energy's payout ratio is currently 59.06%.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on CNP. Argus raised shares of CenterPoint Energy to a "hold" rating in a research note on Friday, April 4th. Barclays raised shares of CenterPoint Energy from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $30.00 to $37.00 in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their price objective on shares of CenterPoint Energy from $38.00 to $39.00 and gave the company a "neutral" rating in a research note on Monday, May 19th. Jefferies Financial Group started coverage on CenterPoint Energy in a report on Wednesday, April 2nd. They issued a "buy" rating and a $42.00 price target for the company. Finally, Evercore ISI increased their price target on CenterPoint Energy from $37.00 to $41.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $36.04.
Get Our Latest Stock Analysis on CenterPoint Energy
About CenterPoint Energy
(
Free Report)
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.
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